Lighthouse Investment Partners LLC Purchases 922,908 Shares of Banco Bradesco SA $BBD

Lighthouse Investment Partners LLC increased its position in shares of Banco Bradesco SA (NYSE:BBD) by 36.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,456,302 shares of the bank’s stock after purchasing an additional 922,908 shares during the period. Lighthouse Investment Partners LLC’s holdings in Banco Bradesco were worth $11,682,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BBD. Fisher Asset Management LLC increased its position in Banco Bradesco by 0.3% during the 3rd quarter. Fisher Asset Management LLC now owns 88,405,292 shares of the bank’s stock worth $298,810,000 after buying an additional 306,617 shares during the period. Orbis Allan Gray Ltd bought a new stake in shares of Banco Bradesco in the second quarter valued at about $250,398,000. Wellington Management Group LLP boosted its position in shares of Banco Bradesco by 7.5% in the third quarter. Wellington Management Group LLP now owns 76,735,708 shares of the bank’s stock valued at $259,367,000 after acquiring an additional 5,374,146 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Banco Bradesco by 4.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 65,254,835 shares of the bank’s stock valued at $220,561,000 after acquiring an additional 2,786,757 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Banco Bradesco by 1.9% during the second quarter. Franklin Resources Inc. now owns 48,199,044 shares of the bank’s stock worth $148,935,000 after acquiring an additional 907,612 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BBD. Itau BBA Securities reiterated an “outperform” rating on shares of Banco Bradesco in a research note on Friday, February 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Banco Bradesco Trading Down 3.4%

BBD opened at $3.54 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 2.68. Banco Bradesco SA has a twelve month low of $1.98 and a twelve month high of $4.28. The company has a 50-day simple moving average of $3.86 and a 200 day simple moving average of $3.53.

Banco Bradesco (NYSE:BBD) last released its earnings results on Friday, February 6th. The bank reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $6.54 billion for the quarter, compared to analyst estimates of $6.68 billion. Banco Bradesco had a net margin of 10.19% and a return on equity of 13.78%. On average, research analysts predict that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, May 14th. Investors of record on Monday, April 6th will be given a dividend of $0.0037 per share. The ex-dividend date is Monday, April 6th. This represents a c) annualized dividend and a dividend yield of 1.2%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is 7.69%.

Banco Bradesco Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.